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South Korea's Financial Services Commission chairman Jun Kwang-woo said he hopes to soon find a way to resolve the issue of Lone Star Funds' stalled sale of Korea Exchange Bank.

"There is the burden of uncertainties in legal matters that need to be solved, but we are thinking very hard to find a solution to the Lone Star problem," Jun said. Until Lee Myung-bak became South Korea's president in February, the government took a very passive position, waiting for trials to end, but the new government is trying to actively seek a solution, he added. "It will be between Lone Star and HSBC, not the government, to decide whether to extend the contract," Jun said.

KEB is majority-owned by Lone Star, which agreed last September to sell its shares to HSBC for $6.3bn (â‚¬4bn). The agreement with HSBC has an April 30 deadline.